how my ajo cycle works
from group creation to payout, every step explained with full transparency
the problem we're solving
traditional savings circles lack trust & transparency
for generations, rotational savings groups known as ajo, pardner, committee, or tontine have helped communities pool resources and support each other financially.
but these informal systems suffer from critical flaws:
- no verification of participants
- manual coordination prone to errors
- no recourse when someone defaults
- fear of regulation keeps groups underground
- no transparent audit trail for checks and lending
step-by-step process
create your group
set your terms, invite your circle
as the organiser, you define contribution amount (e.g., £100/month), payment frequency (weekly or monthly), group duration (e.g., 10 cycles for 10 members), payout order (sequential, random, or custom), and group visibility (invite-only or discoverable). your group starts in draft state no commitment yet, just planning.
members join & verify
three-tier verification ensures trust
invited members (or discovery users) join your group. before locking, everyone must complete verification: (1) bank verification (open banking psd2) connect your uk bank account securely, proves you own the account, enables affordability estimation (35% income cap or £800, whichever lower). (2) identity verification (kyc) government id check via regulated provider, proves who you are, required by uk financial regulations. (3) trust score (behavioral) 0-100 score based on payment history and completion rates, builds over time with good behavior, minimum 50 required to join first group, 80+ for 3rd group. all members see verification badges (bank ✓, id ✓, trust score) on profiles.
chat before committing
no surprises ask anything first
before joining a locked group, members can chat privately with the organiser: ask about group rules, payout order, schedule flexibility. clarify expectations (what happens if i miss a payment?). get to know who you're saving with. no commitment until you're comfortable. this 1-to-1 chat is bound to the invitation keeping conversations focused and reducing moderation overhead. no public group chat means no noise or disputes.
lock & start contributing
when ready, lock the group and begin payments
once all members are verified and comfortable, the organiser locks the group: group moves from forming → locked state, schedules become immutable (no changes allowed), first contribution due date is set (e.g., 1st of next month), no new members can join after lock. payment process (direct bank-to-bank): due date arrives → system sends reminder, member clicks 'pay now' → redirected to bank (open banking), strong customer authentication (sca) at your bank, payment goes directly from your bank → recipient's bank, my ajo cycle never touches the money (£0.50 platform fee charged separately). if a payment fails, the system retries automatically with exponential backoff. members can see real-time payment status: pending → succeeded → confirmed.
rotate payouts & track everything
take turns receiving, full transparency always
each cycle, one member receives the pooled contributions (minus platform fees): payout order set by organiser (sequential, random, or custom voting), full audit trail every member sees who paid, who received, when. payment history immutable records (useful for uk affordability checks), trust scores update on-time payers build higher scores. after all cycles complete, members vote on renewal: continue with same group? (renewing state), exit and receive your completion badges, merge with another group (if both pre-lock). completed cycles add to your trust score and payment history making you more attractive to future groups.
why my ajo cycle is different
no custody model
we never hold your funds. direct bank-to-bank transfers mean your money stays between you and your group never in our hands. no e-money license needed, no platform risk.
transparent pricing
£0.50 per contribution. that's it. no setup fees, no monthly fees, no hidden charges. you know exactly what you're paying.
uk-compliant from day one
built on psd2 open banking, gdpr-compliant, fca-aligned as a technical service provider. no regulatory grey areas.
community governance
members vote on renewal, payout order changes, and group decisions. organisers can create polls and announcements. it's your group you make the rules.
multi-group safeguards
join multiple groups safely with affordability caps (35% income or £800 max), cooling-off periods (7 days between groups), and trust gates (80+ score for 3rd group).
full audit trail
immutable payment records mean you can prove your savings discipline to landlords, lenders, or anyone requiring affordability checks. export your history anytime.